Québecor Media says it grew its revenue by $37 million in the fourth quarter of 2021.
A majority of this increase came from the media sector ($26.6 million), and $12.2 million came from telecommunications. Sports and entertainment made up the rest.
These are the extent of the details on the fourth quarter, published in the telecom company’s quarterly report.
Looking at 2021 as a whole, the company’s revenue increased by $236.6 million overall.
The company’s flanker brand, Vidéotron, increased revenue for mobile services and equipment by eight percent or just over $73 million through 120,800 new connections.
Revenue for internet access increased by $7 million through 44,000 new subscriptions. Revenue for wireline equipment increased by just over $52 million.
The report highlights a number of new services and investments Vidéotron made, signalling the company’s growth.
In December 2021, Vidéotron acquired 294 blocks of 3500MHz band. Valued at $830 million, more than half of the investment is going to Ontario, Manitoba, Alberta, and British Columbia.
“With this spectrum and with favourable conditions that would ensure the economic viability of mobile virtual network operators, which are now mandated by the CRTC, Vidéotron would be the independent player best-placed to ensure the emergence of real competition across Canada,” Pierre Karl Péladeau, president and CEO of Québecor, said in a statement.
Not mentioned in the report is a subsidiary brand of Vidéotron called Fibrenoire and its acquisition of a 3.5GHz spectrum license in the summer of 2021.
The validity of the purchase is being discussed in federal court as Telus accused Vidéotron of only creating the brand to acquire the 5G license. Earlier this week, lawyers for Telus argued details on proof of active customers, subscriber count, and its retail distribution network wasn’t shared with Innovation, Science, and Economic Development Canada.
The report from Québecor also touches on the launch of Vrai, a subscription service that focuses on lifestyle and entertainment content. This service is also facing legal trouble, this time through the CRTC.
BCE has an ongoing complaint the service doesn’t follow the rules laid out by the telecom regulatory body. In response, Québecor says BCE’s arguments are false and the complaint should be dismissed. More details are available here.
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Source: Québecor Media